PFG Investments LLC Grows Stock Holdings in Parker-Hannifin Corporation $PH

PFG Investments LLC grew its position in Parker-Hannifin Corporation (NYSE:PH) by 57.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,088 shares of the industrial products company’s stock after buying an additional 758 shares during the period. PFG Investments LLC’s holdings in Parker-Hannifin were worth $1,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. ING Groep NV purchased a new position in Parker-Hannifin during the 3rd quarter worth $26,398,000. Procyon Advisors LLC raised its stake in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Citigroup Inc. boosted its holdings in Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after acquiring an additional 56,103 shares in the last quarter. Wilkinson Global Asset Management LLC boosted its holdings in Parker-Hannifin by 28.2% in the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after acquiring an additional 10,653 shares in the last quarter. Finally, Advisors Capital Management LLC grew its stake in shares of Parker-Hannifin by 140.0% during the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after acquiring an additional 1,302 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,137.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research note on Thursday, January 29th. Barclays raised their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,000.60.

Insider Activity

In related news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,063 shares of company stock valued at $9,891,214 over the last quarter. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Trading Down 0.9%

Parker-Hannifin stock opened at $955.43 on Friday. The stock has a 50-day moving average price of $953.87 and a 200 day moving average price of $885.89. The company has a market capitalization of $120.59 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 3.10 and a beta of 1.25. Parker-Hannifin Corporation has a 52 week low of $538.08 and a 52 week high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the prior year, the firm posted $6.53 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.